Phoenix was founded by Jeffrey L. Peskind in May 2003 and launched its first strategy in September 2003. This strategy focuses on high yield cash bonds trading at a deep discount to their principal values due to corporate fundamentals or market factors.
In January 2011, Phoenix launched a lower volatility strategy focusing on credits that are generally in the senior part of the capital structure and generate high current income. At the same time, the strategy strives to preserve investor capital through extensive hedging.
During our 13-year history, Phoenix has grown to manage $1.4 billion and currently employs 22 professionals as of September 2016.
Phoenix focuses on high yield debt. Through deep fundamental analysis and extensive market knowledge, our investment team identifies companies that we believe may generate significant capital gains while producing high current income. Phoenix also looks to capitalize on market inefficiencies where there are vast differences between trading prices and perceived value. We strive to uncover opportunities where credits are trading at discounts to our calculation of intrinsic value, and we utilize our extensive industry contacts to source securities.
Phoenix analyzes prospects across all industries, but focuses on asset rich, positive cash flow companies. We look throughout the capital structure and across asset classes to identify securities with the greatest perceived return potential for each of our strategies.